GBPCHF Prints Sexy Price Action Signal @ Swing Level

While doing the weekly market walk-through video for the price action War Room, I spotted this awesome looking price action signal on the GBPCHF 8 hour chart.

There was also a reversal pattern alert waiting for me on my mobile, thanks to the Battle Station (shown on screen).

Why do I like this trade idea so much?

We can see GBPCHF has cleared some consolidation, pushing into higher highs recently – a sign of strength.

After a short pullback, GBPCHF re-tested the previous break out level resistance, and showed more strength by printing a price action reversal signal.

This location is a “hot spot” for buy signals to occur since the mean value and a swing level intercept one another.

Price aciton is communicating with strong evidence that it wants to make a push into higher highs.

We’ve also got a small retracement happening down the signal candle – allowing for better entries, and higher profit potential.

Maybe the probabilities be in our favor!